ADP // 2021 Universal Registration Document

PRESENTAT I ON OF THE GROUP 1 GROUP ACTIVITIES

1.1.4.2 Positioning of the real estate activity Groupe ADP has a leading position on the Île-de-France region’s real estate market thanks to the following assets: ◆ significant land reserves: the ability to provide large, single-use areas of land within districts that are already largely connected to the airport provides an opportunity for companies seeking to group together large office spaces, warehouses and courier services close to Paris; ◆ high-quality assets: spread over three complementary platforms, Groupe ADP’s assets are developed with a sustainable approach (eco-design, eco-construction) and with high certification targets (HQE “Excellent”, BREEAM “Very Good”, etc.); ◆ a privileged geographic location because of the proximity to Paris and the location of the assets and land at the heart of two of the three largest economic hubs in the Paris region, which are an essential driver of the national and regional economy; ◆ improved access by public transport over time: thanks to the completion of CDG Express and Grand Paris Express, line 17 to Paris-Le Bourget in 2027 and Paris-CDG in 2030, line 14 to Paris-Orly in 2024 (connected to line 15 a few stations away from Orly) and line 18 in 2027. In addition, Groupe ADP has significant real estate development opportunities: ◆ certain neighbourhoods offer a strong potential for densification, in particular urban-type neighbourhoods such as the north of the Orly platform, Roissypôle and the Paris Charles de Gaulle cargo area; ◆ a potential for valuing its land through the asset management policy implemented, which enhances the existing land and real estate portfolio (refurbishment, renovation, demolition, etc.); ◆ reversals of owned assets at the end of long-term leases such as construction leases and temporary occupancy authorisations. When the contracts expire, the group will be in a position to opt either to have the buildings demolished by the contract beneficiary to regenerate the land for new development or to keep the buildings and become the owner and, therefore the new lessor. This opportunity materialised in 2021 with the takeover of five assets on the Paris-Charles de Gaulle platform for an amount of nearly €109 million recorded in current income, namely: ◆ a real estate complex identified under the name “Bâtiment KS” (18,599 m 2 ), occupied by Air France at the Roissy airport, ◆ a building complex used as a sorting centre by La Poste (22,414 m 2 ), ◆ a freight station used as a sorting centre (18,206 m 2 ) occupied by Chronopost, ◆ a real estate complex of warehouses (29,533 m 2 ) occupied by the WFS group, and ◆ a warehouse asset (10,890 m 2 ) freed up by DSV.

1.1.4.3 Real estate strategy In terms of its real estate business, Aéroports de Paris hopes to perform at the same level as a first-class integrated property operator, making use of the development potential provided by the airport and its proximity to Paris and benefiting from long-term leases, leading to secure revenues over the long term. This ambition rests on a development strategy that consists of creating districts offering companies and their employees a good quality of life and services (ease of access, sustainable planning, high-quality landscaped areas and a diverse range of shops and services, etc.). The business model of the real estate business is based on two markets (airport real estate and diversification real estate offering medium-term value creation prospects), and three business lines (planner, developer and manager) enabling Aéroports de Paris to be present throughout the value creation chain. The manager business line is based on a solid model with diversified asset classes (hotels, offices, shops, businesses and logistics) and lease maturities offering long-term revenue visibility. Groupe ADP intends to continue strengthening service quality to customers, with a sustainable development policy (certified environmentally-friendly buildings, sustainable area planning, etc.), upgrading holdings and securing sites. Groupe ADP, hit hard by the Covid-19 crisis, had to adapt its investment strategy on the most resilient asset classes, in particular in the cargo and logistics sectors (freight stations, business parks and courier warehouses), and focus on taking ownership of assets at the end of the contracts while pursuing a policy of modernising the existing portfolio and regenerating the properties by demolishing obsolete buildings to make room for the projects started. After analysis of the projects, the choice of acting simply as developer remains possible if the investment operation proves to be insufficiently profitable or if a marked risk of obsolescence is identified or if the asset envisaged is too specific. Despite the current context, real estate developments benefit from growth prospects in the coming years, linked to the arrival of new public transport, which will contribute to supporting the land and real estate value in Orly and CDG, and to a general situation of land scarcity around the Île-de-France airports, which will create a need for new cargo and hotel programmes, as well as business and logistics areas. 2021 was marked by the delivery or continued construction of three projects as an investor at Paris-Charles de Gaulle airport. These are: ◆ the delivery in early 2021 of the Easyhotel with 209 rooms in the southern district of Aéroville; ◆ the receipt of an express courier sorting facility for DHL Aviation of approximately 32,000 m 2 located in cargo area 6 of Paris-Charles de Gaulle of which ADP acquired ownership of the premises at the end of the 3 rd quarter of 2021, contributing to the attractiveness of the airport’s “Cargo City”; ◆ the continued construction of the Courtyard/Residence Inn by Marriott, a hotel complex with 335 rooms at Roissypôle Ouest, which is scheduled for delivery in early 2022. As part of the “2025 Pioneers” strategic roadmap 1 , the Group intends to continue its “investor” strategy, on the one hand, and take advantage of the takeover of full ownership of land and buildings whose leases expire.

1 Announced at Investor Day on 17 February 2022 (see Section 5.1 “Significant events” of this document).

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AÉROPORTS DE PAR I S / UN I VERSAL REG I STRAT I ON DOCUMENT 202 1